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The LNG Energy Group founded by a billionaire oilman from Texas announced on Wednesday, April 24, an agreement with the state oil company PDVSA to rehabilitate five oil fields, days after Joe Biden’s government stopped sanctions relief.
As part of the agreement announced Wednesday, PDVSA awarded contracts to LNG to take over production and develop two oil fields in eastern Venezuela that currently produce around 3,000 barrels per day of crude oil.